Magnolia Oil & Gas Co. (NYSE:MGY) Given Average Rating of “Hold” by Brokerages

Magnolia Oil & Gas Co. (NYSE:MGY) has been given an average rating of “Hold” by the ten analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $28.11.

A number of brokerages recently commented on MGY. The Goldman Sachs Group upped their target price on Magnolia Oil & Gas from $24.50 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Capital One Financial initiated coverage on shares of Magnolia Oil & Gas in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $28.00 target price on the stock. Mizuho boosted their price target on Magnolia Oil & Gas from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Wells Fargo & Company lifted their price objective on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Finally, Citigroup upped their target price on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the stock a “sell” rating in a report on Monday, April 15th.

Insider Buying and Selling at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total transaction of $306,960,000.00. Following the completion of the sale, the director now owns 4,164,961 shares in the company, valued at $106,539,702.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Magnolia Oil & Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGY. Vanguard Group Inc. increased its position in shares of Magnolia Oil & Gas by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 20,757,369 shares of the company’s stock valued at $538,654,000 after buying an additional 2,956,314 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Magnolia Oil & Gas by 20.2% during the fourth quarter. First Trust Advisors LP now owns 10,126,891 shares of the company’s stock worth $215,602,000 after buying an additional 1,704,982 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Magnolia Oil & Gas by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 6,162,526 shares of the company’s stock worth $131,200,000 after buying an additional 128,097 shares in the last quarter. American Century Companies Inc. raised its position in Magnolia Oil & Gas by 24.7% in the 3rd quarter. American Century Companies Inc. now owns 6,009,953 shares of the company’s stock valued at $137,688,000 after buying an additional 1,188,536 shares during the last quarter. Finally, Wasatch Advisors LP lifted its stake in Magnolia Oil & Gas by 2.2% in the 4th quarter. Wasatch Advisors LP now owns 3,679,262 shares of the company’s stock valued at $78,331,000 after acquiring an additional 77,733 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Magnolia Oil & Gas Price Performance

Shares of NYSE:MGY opened at $25.27 on Friday. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.42 and a beta of 2.00. The business has a 50 day moving average price of $25.23 and a 200 day moving average price of $23.48. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. Magnolia Oil & Gas has a twelve month low of $19.16 and a twelve month high of $27.33.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.05. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. The company had revenue of $319.42 million for the quarter, compared to the consensus estimate of $308.21 million. Research analysts predict that Magnolia Oil & Gas will post 2.25 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, May 10th. Magnolia Oil & Gas’s dividend payout ratio is 25.87%.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.